Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 3.3% - Time to Sell?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) fell 3.3% on Wednesday . The stock traded as low as $34.22 and last traded at $34.49. 159,655 shares were traded during mid-day trading, a decline of 83% from the average session volume of 931,641 shares. The stock had previously closed at $35.67.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Alliance Global Partners reaffirmed a "buy" rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd. Noble Financial reiterated an "outperform" rating and issued a $70.00 price target on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th. Finally, Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th.

Tonix Pharmaceuticals Trading Down 4.7%

The firm has a market cap of $250.17 million, a P/E ratio of -0.02 and a beta of 2.09. The stock has a 50 day simple moving average of $27.81 and a 200-day simple moving average of $24.47.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, topping the consensus estimate of ($3.23) by $0.39. Tonix Pharmaceuticals had a negative net margin of 1,313.87% and a negative return on equity of 120.96%. The company had revenue of $2.43 million for the quarter, compared to analysts' expectations of $2.55 million. As a group, equities analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Insider Transactions at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 4,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $21.55 per share, with a total value of $86,200.00. Following the acquisition, the chief executive officer now owns 4,005 shares in the company, valued at approximately $86,307.75. The trade was a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.03% of the company's stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several large investors have recently added to or reduced their stakes in TNXP. Geode Capital Management LLC boosted its holdings in shares of Tonix Pharmaceuticals by 1,600.1% in the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock worth $650,000 after purchasing an additional 1,855,907 shares during the period. Jane Street Group LLC boosted its stake in Tonix Pharmaceuticals by 5,932.3% during the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock worth $548,000 after buying an additional 1,635,119 shares during the period. Point72 Asset Management L.P. bought a new position in Tonix Pharmaceuticals during the fourth quarter valued at $526,000. Northern Trust Corp bought a new position in Tonix Pharmaceuticals during the fourth quarter valued at $162,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at $66,000. 82.26% of the stock is owned by institutional investors.

Tonix Pharmaceuticals Company Profile

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.